Each Collection through NEFT is charged at Rs. 28.09 ?

[assemblerz]

Hi
I just have come accross an instance where I got charged for receiving NEFT from a buyer. Further I spoke to my bank , who told me that each NEFT transaction is charged at Rs. 25 per transaction + 12.36% Service tax. So you end up paying Rs. 28.09 per transaction to receive a NEFT.

I am just wondering if anyone else got such charge? Is the NEFT of ebay is also charged? If yes we are spending Rs. 225 per month just to receive our own money using the New Paisapay? Is there any way we can go back to old paisapay(DD system) which was free of cost to receive money?
I hope ebay answers this query that is new paisapay free?

Regards,
Rahul
Assemblerz

[cameras_n_such]

Hello Umang,

You missed a copuple of fees.

1) Marketplace research
2) Sales Reports.

There are other charges associated with ebay.in which do not apply selling on other sites, viz.

Time and effort spent on filling for UPIs, proving PODs for every refund request. Chargeback PODs and risk. ODR expenses and TnS expenses once you are labeled an SNPer which every seller will sure have to face one day in their selling lives.

[emailswarup]

Hi Sapana,

I am really disheartened to read this posting. I accept my transfer in ICICI and I am sure they will start charging once the free transfer period declared by RBI is over on 31-March -2008.
http://www.rbi.org.in/scripts/FAQView.aspx?Id=60
For big sellers it wont be much of a problem but if Rs.28 is deducted from a transfer of Rs.200 then its a deduction of more than 10%. Like PayPal, in PaisaPay too, ebay must let us determine when we want to accept our payment as there are charges involved with that. If anyone wish to pay 28/- for getting 50/- then its upto him / her. I shall not make any transfer if its less than 5000/- so that the impact is less than 0.5% , as envisaged by Umang. In my professional activities I get some transfers from EU and I take those every 2-3 months so that I do not waste money uselessly on transfers, though the iompact is much less than 0.5%. I know you will say that PaisaPay do not have the authority to keep the money with them as they do not have Bank permission. In that case lets use PayPal so that we can decide our plans and are not left to the whims of ebay and thus loose money for nothing.

Sometimes many medium and even big volume sellers pass thru dull selling periods and then they too may end up paying more than 5% for such transfers unless they are allowed to decide when to take the transfers. .
Best Regards 😄
Swarup
Kolkata

[amitava123gems]

Hi Swarup,
I totally agree with you.We should have a PayPal like system here in India.
Thanx,
Truly,
Amitava

[runalaila_in1]

From what i know .... RBI is not charging any service fee till march'08 ... but it does not mean your bank wont charge you as most people think ...
Banks are free to decide their charges ...
And most banks are allready charging..
Some debit with each transaction while some may debit monthly !
Come april '08 and above our banks even RBI may charge !!

[snrama]

Hi All,

I have registered with Canara Bank for my other ID. I will contact them about the NEFT charges. Meanwhile, ICICI are charging for NEFT... ---------------
With Regards,
Navaneeth (snrama) 😉

[indconcepts]

Hello Devesh (cameras_n_such) ,

Yes ... apart from these Tools Fees .... we also have EMI charges ...... The List is endless.

Maybe one day we have to pay for each click on ebay India ..... :-) .


best regards

Umang Midha

[cochinmall]

Dont worry about that in the future.Who knows what future beholds for us? Maybe ebay might allow us to place webmasters banners where for each click,sellers would get 2 cents... 🙂

By march end,new paisapay would be almost completely mature and the Paisapay team would be able to flex their muscles.Actually,I think remittences should be done only on thursdays.This would anyway coincide with the old paisapay period where the seller would get cheques on thursday and gets it cleared on saturday.The only difference is that New Paisapay would clear the amount more quicker.

If a powerseller has to sell a minimum of 20k per month,there would be sales of atleast 5k per week in an average,which is managable for the 28rs deduction.And i think if NEFT transactions are going to charged,then the .5% of 4.5% can be eliminated.

Regards
Rahul
cochinmall

[indraneel@ebay.com]

Hello Sellers,

As Sapana mentioned earlier PaisaPay does NOT charge any money to receive their PaisaPay remittances. On the contrary PaisaPay pays its payment processor (Deutsche Bank) for making a NEFT.

As per our knowledge most banks do not charge any fees for an incoming NEFT transfer. However RBI has allowed the banks to charge any fees for any transaction between the bank and its customers and not just receiving or sending NEFT.


Regards

Indraneel

[coolbrasco]

Hello All,

I am receiving full payment through PaisaPay remittance.

Kind regards,
CoolBrasCo.

[veedeedirect]

Indraneel,

All sellers know what you have said.

We know that it is our bank which is charging us to receive NEFT and not PaisaPay.

What the sellers are saying is that when NEFT amounts are small, even Rs.28/- is a big cost. Like say I received a remittance of Rs. 295.99/- in the preceding week. So for me it works out to 10% of the total amount.

Now it is understood that PaisaPay has been very hasty in lauching the New PP. We all know that the idea is noble but the implementation has bee horribly wrong. PP and ebaY needs to acknowledge that.

Seller have come out with two solutions for the problem. ebaY and PP should accept any one of these. In this course of this, if we could save lakhs of ruppees, it would be worth it.

The two suggestions being :-

1) Let the seller decide when he wants a remittance.

or

2) Make it mandatory for all sellers to have accounts in designated banks so that PP can make internal transfers to it sellers.

The second solution is a one time effort but afterwards it is zero cost to both ebaY and the Sellers.

-----------

Devesh